UK-based startup bootcamp Oxygen Accelerator is upping sticks and relocating to East London's Tech City, moving away from Birmingham where the company was founded in 2011.
The startup accelerator will take over a floor of Google's Campus London from 1 October to run its 13 week programme, which is accepting applications until 23 August.
Highlighting London as the best destination to recruit new talent and compete against rival accelerators - the majority of which are based in the capital - Oxygen said its decision was driven by the fact that London "...has the strongest tech scene of any city in the UK and probably in Europe, which gives it obvious advantages."
"This is part of Oxygen Accelerator's push to attract startups and entrepreneurs from around the world and become a truly international tech accelerator," Oxygen's CEO Simon Jenner told TechCrunch.
The programme will take on 10 startups this year. Successful applicants will receive an investment of €7,000 (£6,030) per founder (up to three per business), meaning the maximum on offer is €21,000 (£19,000) in return for 8 per cent equity.
The startups will then get 13 weeks to perfect their pitches for a demo day attended by a group of angel investors, VCs and private equity group, giving them the opportunity to attract further funding.
During the accelerator period, the businesses will get access to a network of over 150 advisers, as well as receiving office space, intern support and a range of other perks. Following the demo day, Oxygen Accelerator will then provide three additional months of incubation and support.
Oxygen said it has not yet decided where future programmes will be held, according to Jenner, perhaps hinting that the next destination may even be outside of the UK.
Image credit: Flickr (David Guerra Terol)